Monopsony firms will hire more workers than they would if the labor market were competitive
Indicate whether the statement is true or false
F
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Cartels display a pronounced tendency to disintegrate over time because
A) increased profits induce laziness and carelessness among cartel members. B) nobody benefits in the long run from their operation since they merely redistribute wealth. C) their operation is so blatantly contrary to the public interest. D) there are so many margins on which competition can occur.
The steeply upward sloping yield curve in the figure above indicates that
A) short-term interest rates are expected to rise in the future. B) short-term interest rates are expected to fall moderately in the future. C) short-term interest rates are expected to fall sharply in the future. D) short-term interest rates are expected to remain unchanged in the future.
Which of the following statements is false?
(a) Automatic stabilisers reduce the impact of economic shocks that arise from cyclical fluctuations. (b) Automatic stabilisers are deliberately put in place by government e.g. increase in jobseekers allowance. (c) Automatic stabilisers "kick in" when required and do not require deliberate action by government at the time of the economic shock. (d) All of the above are false.
Explain why the long-run product price for a perfectly competitive firm will equal its minimum average total cost
What will be an ideal response?